HSBC Mexico, S.A., Grupo Financiero HSBC
HSBC Mexico S.A. is one of the leading banks in the country and the principal company of Grupo Financiero HSBC. The company offers a wide range of banking products and services including deposits, loans, mortgages, credit and debit cards, mutual funds, term investments, life insurance, car insurance, home insurance, internet personal banking, private banking and more. It also provides treasury services, international trade services, international payments, cash management, trust and brokerage services, corporate finance advisory services. HSBC Group has been operating in Mexico since opening a representative office in the 1970s. In 2000, HSBC acquired Republic National Bank. In 2002, HSBC Holdings purchased Grupo Financiero Bital (GF Bital), Mexico's third largest retail bank, for US$1.1 billion, and today holds 99.7% of GF Bital, which owns 99.2% of Banco Internacional. The integration of GF Bital into HSBC Group was completed in January 2004. Grupo Financiero Bital was formed in 1992 as a result of a merger between Grupo Financiero Privado Mexicano (Grupo Prime) and Banco Internacional. HSBC Mexico S.A. operates as a subsidiary of Grupo Financiero HSBC, S.A. de C.V. Grupo Financiero HSBC is a 99.99% directly owned subsidiary of HSBC Latin America Holdings (UK) Limited, which is a wholly owned subsidiary of HSBC Holdings plc. With about 18,000 employees, HSBC Mexico serves over 5.6 million customers through a network of over 1,050 branches and 6,370 ATMs. As of March 31, 2012, Grupo Financiero HSBC had total assets of MXN 501.61 billion (US$39.16 billion), an increase of 6.8%, compared with the same period of 2011 and total deposits of MXN 301.27 billion (US$23.5 billion).
HSBC Mexico structure:
Banco HSBC México, S.A.; HSBC Seguros, S.A. de C.V.; HSBC Casa de Bolsa, S.A. de C.V.; Fianzas México, S.A.; Global Asset Management (México), S.A. de C.V.; HSBC Servicios, S.A. de C.V.
Credit Ratings (January 2013)